SAN DIEGO, Feb. 10, 2017 /PRNewswire/ -- Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of Mead Johnson Nutrition Company (NYSE: MJN) breached their fiduciary duties in connection with the proposed sale of the Company to Reckitt Benckiser Group plc.
Mead Johnson manufactures, distributes and sells infant formulas, nutrition for children and other nutritional products.
On February 10, 2017, Mead Johnson announced it had signed a definitive merger agreement with Reckitt. Under the terms of the agreement, Mead Johnson stockholders will only receive $90 per share in cash, which is no premium over the $94.40, 52-week high.
The investigation concerns whether the Mead Johnson board failed to satisfy their duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Mead Johnson shares of common stock. Nationally recognized Johnson & Weaver is investigating whether the proposed deal price represents adequate consideration, especially given one Wall Street analyst has a $95.00 price target on the stock.
If you are a shareholder of Mead Johnson and believe the proposed buyout price is too low or you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (firstname.lastname@example.org) at 619-814-4471.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
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SOURCE Johnson & Weaver, LLP